Question
journalize the transactions for the company and open t accounts in a general ledger. Additional information as of December 31 Raw Materials Inventory subsidiary ledger:
Additional information as of December 31
Raw Materials Inventory subsidiary ledger: $5,000
Indirect materials $1,300
Work-in-Process Inventory subsidiary ledger
Job 114 $39,400
Job 115 $0
Finished Goods Inventory subsidiary ledger:
Rosie V $9,900
Rosie X $11,400
December collections on account $151,000
Selling and administrative expenses incurred and paid $32,000
Payments on account $35,000
Materials purchases on account
Raw Materials $25,500
Indirect materials, $4,100
Materials requisitioned and used in production:
Job 114 $800
Job 115 $7,900
Indirect materials, $1,700
Wages incurred during December $40,000
Labor time records for the month
Job 114, $3,800
Job 115 $18,800
Indirect labor $17,400
Wages paid in December include the balance in Wages Payable at May 31 plus $37,200 of wages incurred during December
Plant and Equipment depreciation $3,100
Manufacturing Overhead (MOH) allocated at the predetermined overhead allocation rate of 50% of direct labor cost.
Jobs completed during the month: Job 114 with 700,000 Roxie V Robots at a total cost of $45,900
Sales on account Job 114 for $114,000
Adjusted for over-allocated or under-allocated manufacturing overhead.
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